Big things are in the works for Snapchat. Or should we say Snap Inc?
Recently, Imran Khan, chief strategy officer, announced that they will be rebranding to simply Snap Inc. Coupled with the announcement of rebranding was the unveiling of their new product, Spectacles. Spectacles, as seen in the picture above, are Snap’s newest way of capturing moments in the most realistic way possible. The retro-looking glasses have cameras at the corner of each lens that capture circular video from the user’s point of view.
Why make the change? Let’s take a look.
It appears Snap is trying to position itself within the market to change the user perception of what it is and what services it offers. On the newly named website, Snap.com, Owner Evan Spiegel writes:
“When we were just getting started it made sense to name our company Snapchat Inc., because Snapchat was our only product! Now that we are developing other products, like Spectacles, we need a name that goes beyond just one product – but doesn’t lose the familiarity and fun of our team and brand.”
Holistic user experiences
Snap rebranding includes a clean new logo for Spectacles to establish their brand.
This shows how Snap is looking to change the user perception by creating a more holistic experience. Instead of just being a vanishing picture-based chat platform with questionable beginnings, it is being transformed into a way for people to share a more accurate view of their lives. This improvement in public perception has the potential to increase the meaningful interaction that people have with the app.
For example, say you’re at a concert with some of your friends. Your favorite band is playing and you want to post it to your story. Normally people will see just another muffled, unfocused video. But what if this video is from your very own point of view in a circular frame? This paints a better picture of what the moment was like. Now consider what this could do for the venue owner, concert promoter, or city visitor’s bureau.
Improved user experience
User experience is undeniably important to any service, especially to a company that centers its service around letting people communicate in a fun and unique way. User experience is important because it can mean real dollars for a company who does it well. It can even allow for brand premiums and improve customer retention and satisfaction. In fact, Econsultancy conducted a survey in 2015 that asked businesses what opportunities they saw as exciting. The answer was overwhelmingly customer experience.
Greater consumer engagement
For Snap, revenue comes mostly from advertisements and partnerships with businesses who wish to use their platform as a way to reach their audience. This is where it gets interesting from a marketing perspective. With this massive increase in quality content, consumer engagement will naturally rise. Companies will have the chance to cash in on these moments by applying sponsored geo-filters and other fun features to increase brand awareness. Right now, we see companies use sponsored material for events, sweepstakes, holidays, and a myriad of other instances. Using these same attributes but in a more personal view could really change the way people see that particular brand and create loyalty.
According to Temkin Group, loyal customers are five times more likely to repurchase, four times more likely to refer, and seven times more likely to try a new offering.
So how can this be used in your own marketing?
So where does this come in to play for your business, exactly? Well, since it’s a great way to visualize what real life events are like, it can show potential viewers just what your service or product is like. This is your chance to make a stunning first impression. If you can produce the right content via your Snapchat channel, you may be able to more accurately convey your benefits. The key here is to get creative. Brainstorm ideas to show that what you do provides a value to your customers that they can’t get anywhere else. Use this as an avenue to add value to your brand through a fun user experience. Say you own a restaurant. Use it show your chef’s point of view on how he makes a special dish. The possibilities are endless.
This is a bold move for Snap as it marks the first time that they are actually selling a tangible product. Only time will tell if this is a smart strategic pivot for their brand or a miss-step along the way, but one thing is for sure. If they want to be taken seriously as a company who is more than just a way for Millenials to send pictures of their food, a rebranding is absolutely necessary. Social media is always changing, so it’s important that businesses change with it. What you can learn, as a business, from this rebranding is that there are always new ways to create content and show what your business is all about. Stay ahead of the curve, and you can see real success.
Serina Aswani. The Top 14 Customer Experience (CX) Stats of 2016. Clarabridge. 2016. http://www.clarabridge.com/the-top-14-customer-experience-cx-stats-of-2016/
Toma Kulbyte. 32 customer experience statistics you need to know for 2016. SuperOffice http://www.superoffice.com/blog/customer-experience-statistics/
Topics: Social Media